LR Health & Beauty SE announced its financial results for the third quarter of 2024. Sales during the quarter increased by 7.2% to $73.2 million. EBITDA during the quarter increased to $7.7 million. The company experienced an increase in distributors and higher sales as a result of a successful market launch of LR Zeitgard Signature and what it called a “realignment of the career plan.”
In the first nine months of 2024, sales reached $224.5 million, up from $217 million in the same period last year.
“With the introduction of the new LR ZEITGARD Signature product category, we have achieved one of the most successful product launches in LR’s history and seamlessly continued our journey of successful market launches of the recent past,” said Dr. Andreas Laabs, LR Health & Beauty SE CEO. “In addition, we have further improved the attractiveness of our business model for distributors by realigning our career plan. We are currently experiencing a decent influx of new distributors and a significant increase in the number of successful careers. Accordingly, we are looking forward to continuing to grow significantly in 2024 and believe we are ideally positioned for an even more successful 2025.”
Forecast for the full year 2024 now includes sales between $303.9 million – $308.2 million with an EBITDA between $27 million-$30 million. While the new realignment of its career plan for distributors is expected to have a positive impact on sales development, the company expects its results to be “burdened by refinancing costs.”
